Freshpet, Inc. $FRPT Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Freshpet, Inc. by 171.9% in the first quarter, owning approximately 0.85% of the company worth $34.5 million.
• Freshpet reported an earnings per share (EPS) of $0.33, surpassing analysts' expectations, with revenue of $264.69 million for the quarter.
• Analyst consensus for Freshpet's stock shows a Moderate Buy rating, with an average target price of $109.29.

American Century Companies Inc. raised its position in Freshpet, Inc. (NASDAQ:FRPT - Free Report) by 171.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 414,997 shares of the company's stock after acquiring an additional 262,387 shares during the quarter. American Century Companies Inc. owned approximately 0.85% of Freshpet worth $34,515,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Freshpet by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 5,223,695 shares of the company's stock worth $434,455,000 after purchasing an additional 571,139 shares during the last quarter. Nuveen LLC purchased a new position in Freshpet in the first quarter valued at $15,073,000. Riverbridge Partners LLC raised its stake in Freshpet by 18.0% in the first quarter. Riverbridge Partners LLC now owns 1,026,829 shares of the company's stock valued at $85,401,000 after buying an additional 156,583 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in Freshpet in the first quarter valued at $12,799,000. Finally, Principal Financial Group Inc. raised its stake in Freshpet by 124.0% in the first quarter. Principal Financial Group Inc. now owns 241,196 shares of the company's stock valued at $20,060,000 after buying an additional 133,539 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FRPT shares. TD Cowen cut Freshpet from a "buy" rating to a "hold" rating and set a $96.00 price target on the stock. in a research note on Wednesday, May 28th. DA Davidson set a $101.00 price target on Freshpet in a research note on Thursday, August 7th. Stifel Nicolaus set a $90.00 price target on Freshpet and gave the company a "buy" rating in a research note on Thursday, June 12th. Wells Fargo & Company cut their price target on Freshpet from $100.00 to $88.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 9th. Finally, Benchmark restated a "buy" rating and issued a $95.00 price target (down from $120.00) on shares of Freshpet in a research note on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $109.29.

Freshpet Stock Performance

NASDAQ:FRPT traded up $2.17 during trading hours on Friday, reaching $62.62. 904,419 shares of the company's stock were exchanged, compared to its average volume of 1,380,644. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 93.46, a P/E/G ratio of 1.11 and a beta of 1.77. The company has a 50-day moving average of $68.40 and a 200 day moving average of $81.55. The company has a quick ratio of 3.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.40. Freshpet, Inc. has a 1-year low of $59.23 and a 1-year high of $164.07.

Freshpet (NASDAQ:FRPT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.21. Freshpet had a net margin of 3.23% and a return on equity of 4.82%. The company had revenue of $264.69 million for the quarter, compared to analyst estimates of $269.75 million. During the same period in the previous year, the business posted ($0.03) earnings per share. Freshpet's quarterly revenue was up 12.5% on a year-over-year basis. Freshpet has set its FY 2025 guidance at EPS. Research analysts anticipate that Freshpet, Inc. will post 1.55 EPS for the current year.

Freshpet Company Profile

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.